Pertamina acquires Thailand?s Amaco Production
Monday, January 19 2015 - 02:06 AM WIB
State-owned oil and gas firm PT Pertamina has acquired the lubricant brand and production facility of Thailand?s Amaco Production Co Ltd as part of strategy to expand its lubricants market in the Asian region.
The acquisition was made by Pertamina through its subsidiaries PT Pertamina Lubricants and PT Pertamina Retail, which respectively acquired 74 percent and 1 percent of Amaco shares.
The acquisition agreement was signed by Pertamina Lubricants President Director Supriyanto DH and Pertamina Retail President Director Romulo Hutapea in Bangkok on December 26.
Supriyanto said recently that the acquisition of Amaco formed part of the firm?s strategy to expand its Indochina markets such as Myanmar, Laos, Cambodia, Vietnam and China.
Editing by Reiner Simanjuntak